Me and the Money Printer

Me and the Money Printer

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Me and the Money Printer
Me and the Money Printer
One Last Point Before Thanksgiving...

One Last Point Before Thanksgiving...

We continue our education into how the world operates...

Garrett Baldwin's avatar
Garrett Baldwin
Nov 27, 2024
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Me and the Money Printer
Me and the Money Printer
One Last Point Before Thanksgiving...
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Dear Fellow Expat:

Maybe this isn’t for you. But when the markets experience a dramatic shakeup in the next 18 months - investors will want to know the make, color, and year of the car that hit them, and a description of the driver.

The media will tell you that the driver was orange with blonde hair.

But I assure you - it was a clown car full of central bankers and hedge fund managers.

We continue to explore Capital Wars by Michael Howell. As we’ve explained, there is a refinancing crisis on the horizon. The system has changed dramatically from investment in the real economy to grand-scale financialization over the last three decades.

Today, we have to understand the difference between the two things.

Two Circuits, One Mess

In Chapter 5, Howell introduces his two-circuit theory, which reveals how money really moves in today's world. The economy has two separate power systems, like a house with two electrical grids.

The Industrial Circuit processes real things - building factories, making…

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